Speaking of banks, businesses that don’t shop around for the best credit card processing service aren’t likely to be making many trips to their bank. Like the song says, “You’d better shop around.” You need to consider more than processing rates, however. How long has the service been in business? Can they provide assistance in determining the best solutions for your business type, size and budget? What are the costs for startup equipment? Does the service utilize technology that assures your customers speedy service? On more than one occasion, I have seen business lost as customers walk away from a checkout line that has slowed due to difficulties in processing credit card transactions.
It also pays to look beyond card processing. Does the service offer other equipment? ATMs, for example, may require only a small space and an electrical outlet. Not only will they lure cash customers, but they can earn a business a percentage of the transaction profits. Look for services that provide free equipment and setup.
When you're searching for a processing service, don’t forget to check online. Websites are a quick way to compare services and prices. Don’t be a goose-brain! Time invested in checking out processing services, can pay some handsome rewards at the bank.